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RNC takes out loan, sends $5M to allied committees

RNC takes out loan, sends $5M to allied committees

RNC takes out loan, sends $5M to allied committees

PHILIP ELLIOTT

Oct. 17, 2014

https://www.apnews.com/288ca19743004f298724eabc58da9538

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WASHINGTON (AP) — The Republican National Committee said Friday it has borrowed $5 million to help GOP campaign committees and that all new donations will be sent to help candidates in competitive Senate races.

"This is the time when you double down to win," RNC Chairman Reince Priebus said in a statement. "I feel really good about where our campaigns are, and we're going to do everything we can to take back the Senate in November."

Of the $5 million loan, $4 million is going directly to the National Republican Senatorial Committee. The committee also told donors that every dollar raised between now and Election Day will be earmarked to help Senate hopefuls.

If Republicans see a net gain of six seats, they will control the Senate for the final two years of President Barack Obama's term. Republicans appear on track to pick up the seats they need, and Democrats are spending heavily in an attempt to stop them.

The RNC also said it had sent $1.5 million to state parties to help get-out-the-vote efforts in competitive Senate races.

The central party sent the $1 million balance on the new loan to the National Republican Congressional Committee to defend what is seen as a safe majority in the House. Republicans are trying to expand their control of that chamber.

Republicans have 233 seats in the House, while Democrats have 199. There are three vacancies.

Separately, the NRCC already has secured a $20 million line of credit on its own.